Real Madrid Meet With Racing Santander To Finalize Sergio Canales Signing

Young Racing Santander star Sergio Canales' future appears to be moments away from being sent in the direction of the Santiago Bernabeu as Madrid Director General Jorge Valdano and Racing president Francisco Pernia hold a reunion today to cross the t's and dot the i's of the final contract.

As reported by Marca, the principal focus of the delay in finishing the deal has been Canales' destination next season. The Santander club wants to include a clause in the contract that keeps Canales at El Sardinero on loan until the summer of 2011. Real Madrid reportedly want the youngster to form part of the squad during next season's pre-season and for the Blancos' coach to decide whether to keep him in the squad or cede him for a season to Racing.

Racing also wish to include a buy-out clause of €15 million for the contract, something that seems a bit surprising since the player himself had already reached an agreement with Los Blancos. The 18-year-old will sign a six-year contract that will see him earn a total of €9m with the Spanish giants. In the next few days, the deal is anticipated to be finalised and thus announced officially.

According to sources in Spain, today's meeting between the two clubs went extremely well and confirmation of the deal is expected to be announced imminently. Canales is reported to have agreed the six-year contract Real offered him and will stay with Racing until the summer of 2011.